Forex Signal (Thur, July 01, 10:00 am EST) US ISM Manufacturing

Crazy Cat

Former FPA Special Consultant
Messages
753
Hi there :)

On Thursday, July 01st at 10:00 am New York Time we will have US ISM Manufacturing Index coming out. It is expected to read 59.1 Last month it read 59.7.

I recommend trading USD/JPY for this report.

Please read what this indicator means and how it affects the USD/JPY by going to this link: http://www.forexpeacearmy.com/forex-forum/economic-indicator-descriptions/7327-us-ism-manufacturing-index.html

The trigger for this indicator is 3.0. This means that if US ISM Manufacturing index comes out at 62.1 or higher, USD/JPY will probably go up by 30 pips or more in the first 45 minutes of the report. If it comes out at 56.1 or lower, USD/JPY will probably go down by 30 pips or more in the first 45 minutes of the report.

It is not likely we will see such a big deviation but if it happens, this might be a decent trade.

To read the after-spike retracement strategy for this report click here: Diamonds Forex Trading System (Trading News After The Spike) - Forex Peace Army Forum

For example: on April 01, US ISM Manufacturing Index came out at 59.6, versus an expectation of 57. The market did not care. See for yourself what happened on this chart: Forex news trading currency exchange charts

I highly recommend you study the entire history and charts of this report by following this link:
Forex News Trading | Details and History for USD ISM Manufacturing Index

Good luck!
-Crazy Cat
 
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